8 of the top 10 funds in Bulgaria are managed by Expat Capital.
26.01.2026
Expat Capital's funds dominate Capital's ranking of the most profitable mutual funds in 2025. The company reaffirms its position as a leader in the Bulgarian market. Eight of the ten best-performing funds in the country are managed by Expat Capital.
Through its exchange-traded funds, Expat Capital provides exposure to Central and Eastern Europe, a region that has become the main driver of returns in 2025.
Czech Republic – the big winner of 2025
The absolute leader in the ranking is Expat Czech PX UCITS ETF with over 57% yield for the year and the only fund to achieve a return of over 50% in 2025.
Expat Natural Resources – leader among Expat Capital's actively managed funds
The best performing actively managed fund in Expat's portfolio in 2025 is Expat Natural Resources, which is third in the overall ranking of the most profitable mutual funds in Bulgaria. With a return of 45.26% for the year, the fund outperformed almost all other actively managed strategies. Its investment approach, developed in collaboration with consultant Boyan Rashev, leading expert in energy, resource, and environmental management, focuses on the energy, commodities, and industrial metals sectors.
Expat Gold also ranked among the best-performing funds with a return of 43.94%, thanks to record highs in the price of the precious metal.
Among the top ten most profitable funds are also those with exposure to Poland, Romania, Hungary, Greece, and Slovenia—all of them with impressive double-digit growth, and most of them with over 40% annual returns.
What can we expect in 2026?
Central and Eastern Europe remain among the best-positioned regions for this year. The combination of relatively low valuations, higher economic growth rates, and growing interest from global investors seeking alternatives to developed markets that are no longer as attractively valued creates a favorable environment for the trend to continue. An end to the war in Ukraine would also give an additional boost to markets in the region.
RISK DISCLOSURE
This material is for informational purposes only and no part of it may be construed as an offer or solicitation for a transaction to sell or purchase financial instruments and/or professional advice related to an investment decision. All necessary measures have been taken to ensure the accuracy of the content, but under no circumstances shall Expat Capital AD and Expat Asset Management EAD be liable for this content and shall not be liable to recipients or third parties for the accuracy, completeness and/or correctness of the information contained in the document.
Expat Asset Management provides all interested parties with the opportunity to familiarize themselves in Bulgarian with the current prospectuses, key investor information documents, and financial statements of the contractual funds managed by the company on the company's website www.expat.bg, at the company's office (96A G. S. Rakovski Street, Sofia) every working day from 9:00 a.m. to 6:00 p.m., as well as at all counters where orders for the sale and repurchase of fund shares are accepted.
Investors should bear in mind that forecasts are not a reliable indicator of future returns. Past performance is no guarantee of future results, and the value of investments may fall or rise, resulting in significant losses. Profits are not guaranteed and there is a risk that the full amount invested may not be recovered. Investments in shares